Facebook to expand 'Nearby' feature with mobile update

Facebook announced a big update for its "Nearby" feature Monday. (Facebook )

Facebook is set to roll out updates for its iPhone and Android apps that will expand its "Nearby" feature and make the social network more of a competitor to location-based services like Yelp and Foursquare.

The update is scheduled for release later Monday, and Facebook said the improved Nearby feature will make it easier for users to discover new places that their friends like.

To access the feature, tap the top left icon or slide your screen to the right. There, tap the "Nearby" tab, which is under the "Favorites" cluster.

Currently, the Nearby feature shows you places your friends have recently checked in at, but the improved feature is slated to do much more than that.

Facebook said the improved feature will allow users to search for places by category.

"If you’re looking for a place to eat, choose a category like Restaurants to see what’s nearby," the company said in a release Monday.

Once you select a business, the feature will show you which of your friends have checked in there as well as other information, such as store hours. You'll also be able to rate places and recommend them.

"Your own suggestions become more personalized the more you and your friends rate, recommend, and check into places," the social network said.